EMI for a 2 BHK in Prestige Falcon City Chennai

For this Prestige Falcon City Chennai EMI calculation, a ₹1.30 crore apartment is funded through a ₹97.50 lakh loan and ₹32.50 lakh in buyer funds. This follows a 75% loan-to-value assumption. RBI’s housing-loan framework sets a maximum LTV of 75% for bank housing loans above ₹75 lakh.

The bank’s final loan amount also depends on its property valuation and your repayment capacity. Existing EMIs, income, age and credit history affect eligibility. A higher down payment reduces both the monthly EMI and the total interest paid.

For example, increasing your contribution from ₹32.50 lakh to ₹40 lakh reduces the required loan from ₹97.50 lakh to ₹90 lakh. The extra contribution goes directly towards reducing your borrowing.

The table below compares repayment periods for a ₹97.50 lakh loan at an illustrative 8.5% annual interest rate. It assumes monthly repayments and an unchanged rate throughout the term.

The 20-year home loan balances the monthly payment against the interest cost. Choosing 30 years instead of 15 years lowers the EMI by roughly ₹21,043, but adds about ₹97.07 lakh in interest under these assumptions.

For a floating-rate loan, these totals can change. A rate revision may affect the EMI, repayment term or both, depending on the lender’s terms.

The proposed Prestige Falcon City Chennai payment plan divides the apartment price into 10% at booking, 10% at agreement and 80% across construction milestones. For a ₹1.30 crore 2 BHK, the corresponding amounts are:

• Booking payment: ₹13 lakh.
• Agreement payment: ₹13 lakh, within the stated 30-day window.
• Construction-linked balance: ₹1.04 crore.

The builder’s payment schedule and the bank’s funding share serve different purposes. Paying the first ₹26 lakh does not mean the bank will fund the entire ₹1.04 crore balance.

Under the 75% funding example, your total price contribution is ₹32.50 lakh. You would therefore need another ₹6.50 lakh of your own funds across later payments, in addition to the initial ₹26 lakh. Taxes and other purchase charges require a separate budget.

An under-construction apartment loan is generally released in stages as approved payment demands arise. If your lender offers interest-only pre-EMI, the monthly amount is calculated on the loan funds already disbursed.

At an assumed 8.5% annual rate, pre-EMI on ₹25 lakh disbursed is approximately ₹17,708 per month. Once the disbursed amount reaches ₹50 lakh, the interest-only payment rises to about ₹35,417 per month.

Pre-EMI pays interest without reducing the principal. Some loan arrangements allow regular EMI during construction, which starts principal repayment earlier. Compare both options with the lender, especially if you will also pay rent before handover.

For a ₹97.50 lakh loan over 20 years, the monthly EMI is approximately ₹81,553 at 8%, ₹84,613 at 8.5% and ₹87,723 at 9%.

A one-percentage-point increase from 8% to 9% adds roughly ₹6,170 per month. Leave room for such changes when setting your apartment budget. The 8.5% rate used here is a calculation assumption; your lender’s quotation will determine the actual repayment amount.

The ₹32.50 lakh buyer contribution covers only the assumed unfunded portion of the ₹1.30 crore apartment price. Your purchase budget should also account for applicable GST, stamp duty, registration, loan processing charges and other items in the unit’s cost sheet.

Interiors, furniture and moving expenses add to the cash needed before occupation. For buyers living in rented homes, rent and construction-stage loan payments may overlap. Keeping these costs separate gives a clearer view of affordability than the EMI alone.

Prestige Falcon City Chennai’s Medavakkam–Sholinganallur Road location and planned 1,001–1,220 sq ft 2 BHK layouts help define the home you are buying. The final unit price and complete cost sheet should define the loan you take.